Investment instruction error for employees in the Sun Life Voluntary Retirement Savings Plan

On July 15, 2020, we added 2 new target date funds to the Sun Life VRSP investment line up – the 2055 and 2060 Sun Life Target Date Segregated Funds. At the time of our fund add, an error occurred on our system that impacted employees whose investment instructions were directed to the 2045 and 2050 target date funds. Those in the 2045 fund had investment instructions updated to 2055, and those invested in 2050 had their investment instructions updated to 2060. As a result, contributions were allocated incorrectly.

We’ve since corrected this error for all impacted employees and we’ve ensured any contributions that were incorrectly allocated since July 15th were retroactively corrected. VRSP employees may see some of this activity on their December 31, 2020 statement and their transaction history online at www.mySunLife.ca. There is no impact to contribution receipts.

We will be communicating this to your employees in the coming weeks. No action is required by you or your employees.

Questions?

Please contact your Sun Life Group Retirement Services representative.